We've seen it over and over. Like London. These disasters are always buying opportunities. The media's business is to scare people. Scare = $$. People then overreact. Don't miss it again! Buy.
correct... they selling market down into hurricane... if Houston/Galveston.. or the ports/oil rigs get crushed like N.O. you have to buy the dip like all the other times.. thats why they dumping now... to buy back lower and watch market rocket to da moon for free money with no risk$$$
i will cover my remaining es shorts then and do some mild buying if i get a signal for the position trades i make -- if anything all the news reports after the storm hits should gives us a good spike down to make a short term bottom. market sentiment has totally shifted and this is different from the last two events {lower high for the es on 09/12/05 versus the August highs} so be aware of that --- could get a short term pop after the heavy selling ends for a few days. still looks like to me that 1200 will be tested prior to any new highs being made in the es and that will only add to possible additional downside market movement. I will be watching for a 1208 es test to start covering more short positions --- if we make it through 1208 then 1200 will for sure be tested soon. depending when the storm actually hits and where may give a very good close of friday trading time period play, to make a good profit for a gap up or down come sunday open.
maybe this will be the time everyone is thinking the same as you and it won't happen Tell me something, if you have a real view on something why do you tell the world? A great (and very large 1980's/90's pit) trader once told me the last thing you want if for the whole world to know what you are up to.
I feel relatively safe. I won't be able to outsize the whole world in the e-mini contracts I plan to purchase.
Wall St loves death and destruction, the more the better. If for example, the Bay Area got hit with a 9.0 quake, DOW would be at 12,000 easily...
I know, it seems perverse. But think about it. Would we prefer a resilient economy, or a non-resilient economy?